Twenty Two Liberty @ Fan Pier | 22 Liberty Drive - Parcel C | Seaport

Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Goes for $800k per week
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Seems reasonable.

Although apparently it's supposed to be in Med for the summer.
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Haha, read this as "Medford". Was trying to figure out where on the Mystic a boat like this would dock.
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Apologies for the varying quality here. I took these photos with my phone on a moving boat:





 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Maybe its just me, but it seems like the steel on this one has been moving slowly. Feels like the cores have been up for a long time and little progress has been made on the frame.
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Kind of a weird shot but figured I'd post anyway (I was captive in a car)

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Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

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Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

The proportions of the last picture remind me a bit too much of the World Trade Towers.

cca
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Love the pic catching the two cores and the two Harbor Towers in the background. Makes me feel like steel should begin rising around the HT's any day now.
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Why is this taking so long to rise
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Fallon racking up sales at latest Seaport condo project

While only a pair of concrete elevator shafts have been built so far on the waterfront site next to the federal courthouse, only about two dozen of the 103 units are still available, according to real estate sources. Brokers say buyers are signing contracts with average prices per square foot of $1,500. The units on the upper floors, facing the water, are fetching more than $2,000 per square foot. That’s about $1.5 million for a 1,000-square-foot foot unit without water views and more than $2 million for a similar-sized unit facing the harbor.
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http://www.bizjournals.com/boston/r...racking-up-sales-at-latest-seaport-condo.html
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

You have to wonder if the Copley Place developers are reconsidering their current apartment-heavy scheme...
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Apples and oranges. Copley Tower is going for the uber wealthy and is in the right location to do it. They are totally different buys than who 22 Liberty is targeting.
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

vanshnookenraggen said:
Apples and oranges. Copley Tower is going for the uber wealthy and is in the right location to do it. They are totally different buys than who 22 Liberty is targeting.
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$2,000 per square foot is still very, very wealthy. I think that's on par with what they get for places at the Mandarin Oriental. The only other American cities hitting those /sq ft levels are NYC, SF, LA, DC and maybe Miami.
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

vanshnookenraggen said:
Apples and oranges. Copley Tower is going for the uber wealthy and is in the right location to do it. They are totally different buys than who 22 Liberty is targeting.
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I would argue that they're going after the exact same market...
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

^^ As a real estate professional, I can assure you they're going for the exact same market! And with how late to the game Copley will be by the time it breaks ground, it's pretty likely they're going to change the condo/apartment ratio yet again. There just are not enough condos or apartments in Boston to keep up with demand.
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

yeah, seems like this building will be for the uber wealthy too
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

14837293469_b390216c7c_b.jpg
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

Boston Business Journal says all but 24 units are sold and the lowest price is now $1500 a square foot.
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

You would think that after nearly every new residential building in the last five - ten years is marketed as "luxury" that there would be an over saturation of housing that is super expensive, that a "normal" person could afford. Normal meaning not in the market / can't afford the luxury model.
 
Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport

mdd said:
You would think that after nearly every new residential building in the last five - ten years is marketed as "luxury" that there would be an over saturation of housing that is super expensive, that a "normal" person could afford. Normal meaning not in the market / can't afford the luxury model.
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All "luxury" means in Boston these days is "new." If you replace the offensive word "luxury" with the word "new" it all kind of makes sense. Duh, of course new construction on extremely scarce land is expensive. Putting in a fancy counter top and shiny fixtures (i.e. the "luxury" elements) is not what makes these things expensive. There is no non-luxury trim that would make new construction appreciably less expensive.

Don't kid yourself that non-luxury new construction is an option in a desirable neighborhood (we are talking about freaking Fan Pier here) and don't kid yourself that non-luxury new construction is an option in an undesirable neighborhood until the market gets truly saturated and developers are forced to settle for lower margins.

It is not some bullshit marketing hype driving this. It is the market itself.
 
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